Moran Wealth Management LLC Purchases 897 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Moran Wealth Management LLC lifted its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 16.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,368 shares of the company’s stock after purchasing an additional 897 shares during the period. Moran Wealth Management LLC’s holdings in Turning Point Brands were worth $383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after buying an additional 15,344 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Turning Point Brands by 40.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock worth $12,243,000 after purchasing an additional 58,425 shares in the last quarter. First Sabrepoint Capital Management LP bought a new position in Turning Point Brands in the 3rd quarter worth $7,517,000. JPMorgan Chase & Co. lifted its position in Turning Point Brands by 84.5% during the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock valued at $5,311,000 after purchasing an additional 56,364 shares in the last quarter. Finally, Access Investment Management LLC lifted its position in Turning Point Brands by 0.4% during the fourth quarter. Access Investment Management LLC now owns 122,125 shares of the company’s stock valued at $7,340,000 after purchasing an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TPB shares. StockNews.com downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday. Alliance Global Partners began coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 target price on the stock. Oppenheimer assumed coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target for the company. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research note on Thursday, March 6th. Finally, Roth Mkm restated a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $73.33.

Turning Point Brands Trading Up 0.5 %

Turning Point Brands stock opened at $59.35 on Thursday. Turning Point Brands, Inc. has a 1 year low of $26.45 and a 1 year high of $72.54. The firm’s 50 day moving average price is $62.83 and its 200-day moving average price is $54.43. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The stock has a market cap of $1.05 billion, a P/E ratio of 23.55 and a beta of 0.75.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be paid a $0.075 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.51%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s payout ratio is presently 14.15%.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.